Feb. 20 Premarket Briefing: 10 Things You Should Know
Here are 10 things you should know for Thursday, Feb. 20:
1.-- U.S. stock futures were pointing lower Thursday ahead of economic data including a read on consumer prices.
Global stocks declined on a contraction in Chinese manufacturing. China's manufacturing tumbled to a seven-month low in February, according to the preliminary results of a HSBC survey of factory purchasing managers.
China's Shanghai Composite edged down 0.2%. Japan's Nikkei 225 fell 2.2%.
European stocks were lower in early trading.
2.-- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EST, the Consumer Price Index for January at 8:30 a.m., the Philadelphia Fed Index at 10 a.m., and leading indicators for January at 10 a.m.
3.-- U.S. stocks on Wednesday fell after minutes of the last Federal Reserve meeting revealed that members debated raising interest rates.
The S&P 500 closed 0.65% lower at 1,828.75, while the Dow Jones Industrial Average dropped 0.56% to 16,040.56. The Nasdaq slid 0.82% to 4,237.95.
The purchase price is made up of $4 billion in cash and about $12 billion worth of Facebook shares. The deal also includes an additional $3 billion in restricted stock units to be granted to WhatsApp's founders and employees that will vest over four years following the deal's closing.
WhatsApp will continue to operate independently and retain its brand following the acquisition's closure and the company's co-founder and CEO Jan Koum will join the social network's board.
More than 450 million people use the mobile messaging service each month and WhatsApp adds more than a million registered users each day.
Shares of Facebook fell 3.5% in premarket trading to $65.68.
5.-- Electric carmaker Tesla
Tesla delivered 6,892 Model S units in the qiarter, and had a 25.2% non-GAAP gross margin.
The carmaker said it expects to deliver 35,000 Model S units in 2014, up 55% from a 2013.
Tesla shares rose 12.3% in premarket trading to $217.40.
6. -- Hewlett-Packard
Excluding charges, Wal-Mart earned $1.60 a share in the quarter on a 1.4% increase in revenue to $128.79 billion.
Analysts forecast fourth-quarter earnings of $1.59 a share on sales of $130.23 billion.